IdealDev’s Post

When I am not working on payments and supporting financial institutions, I like to follow up on financial inclusion efforts. The International Financial Inclusion Conference day 1 was insightful regarding what the CBN is doing to drive financial inclusion across the board. One point that really stuck with me was Tosin’s use of Moniepoint’s data to show how women borrowers have a better loan repayment ratio compared to men, around 87% better. The keynote by Ndiamé Diop was the highlight for me. He underlined the barbell nature of economic growth in Nigeria, i.e., how growth has happened on two spectrums. On one spectrum were sectors with low productivity (subsistence farming, petty trade, etc.), and on the other spectrum were capital-intensive exports (oil and gas, mining, etc.). These created economic growth but did not directly improve the lives of citizens because the low-productivity sectors had low wages, and the capital-intensive sectors did not employ many people. The NESG CEO later referred to this as “Jobless growth,” economic growth without jobs. To address this problem, Diop emphasized the importance of export sectors that have high labor participation (e.g., manufacturing and skills outsourcing). From my research, I think this is most important because to include people financially, they must have finance in the first place, i.e., some level of income to make the whole endeavor worth it. So, one thing we should be on the lookout for is not just the government’s growth agenda but the sectors it prioritizes. When he talked about solutions, Diop mentioned two critical elements: partnerships and credit to MSMEs, which operate largely in the informal sector. This was interesting to me because I recently came across an article by Babajide Duroshola that helped reframe my mental model of the informal sector. It said that infrastructure does exist in the informal space, but it is more social than physical (community infrastructure). I think there is an opportunity to leverage those community-led institutions to drive not just financial inclusion but development. We can use those systems to help introduce technology into the agriculture sector and drive standardization of production. Standardization is important because it helps set up the traditional domestic agricultural sector to compete on the international stage. It will also help drive the “export-led high labor participation sector” talked about earlier. Overall, the session was interesting. I am looking forward to today’s session on policy and partnerships in innovation.

Financial literacy is the key to unleashing economic empowerment in Africa. By understanding budgeting, saving, and investing, we can transform our communities and create sustainable growth. Let's prioritize financial education to pave the way for a prosperous future for everyone. #SECConsultancy #FinancialLiteracy #AfricaRising #EconomicEmpowerment

Effective Public Financial Management (PFM) is crucial for driving sustainable development in emerging economies. By ensuring transparent, accountable, and efficient allocation of resources, PFM strengthens government institutions, fosters economic stability, and improves service delivery to citizens. In international development, robust PFM systems are essential to achieving long-term goals, reducing corruption, and building trust between governments, donors, and communities. Strengthening PFM is not just about managing finances—it's about empowering nations to unlock their full potential. #PublicFinancialManagement #InternationalDevelopment #Sustainability #GoodGovernance #Accountability #Day2MnEtrip #AIHSS2

The intersection of finance and human development: Financial empowerment can drive positive societal change. Whether it's through microfinance initiatives, education in financial literacy, or investments in social enterprises, finance has the power to uplift communities and foster inclusive growth. As finance professionals, let's strive to create a more equitable world where everyone has access to opportunities for prosperity and advancement. Together, we can make a difference! #FinanceForGood #HumanDevelopment #SocialImpact #finance #development

African bank is sharing perspective around the need to create a one stop shop to supports entrepreneurs but support for non financial matters. I agree that this is a space that is fragmented and not always easily accessible, but is this a focus area for a financial service sector? Further question, should financial services institutions not be talking about the access to funding and more importantly how can entrepreneurs access critical finance? Is there not a need for innovative funding models? Interesting perspectives and interesting platforms to create meaningful narrative and space to be solution orientated. Allan Gray Orbis Foundation #GECPlusAfricaConnectingAfrica #AGOF

Check out this recent piece by Claire Melamed and Mahmoud Mohieldin highlighting three key ways that investing in data can revolutionize development finance -- with new ways to collect better data for taxation, by improving data for investment risk analysis, and by using new data to optimize resource allocation. We see the need for better data access in inclusive growth. The article mentioned one great example: by sourcing more granular data on multilateral development bank returns and defaults, a Dutch pension fund was able to de-risk a $1B SDGs-focused fund. 🌏 When we can use new data (like making it more granular or unlocking privately held data) or use existing data in new ways (combining datasets or thinking creatively), we can unlock all kinds of value -- let's call it Return on Impact. ❗ In fact, they highlighted a recent investment case (by the UN and GPSDD) that found that for every $1 invested in projects that strengthen data systems return an average of $32! 🤯 How would you use better data systems to improve your ROI? #developmentfinance #dataforsocialimpact #sdgs #impact #

New Impact Evaluation Brief: European Bank for Reconstruction and Development (EBRD)'s emergency response to the COVID-19 pandemic. The findings from 3ie’s latest impact evaluation provide valuable insights into the effectiveness of EBRD’s Solidarity Package, which aimed to bolster banks during the COVID-19 pandemic. Supported banks showed a significant increase in lending, with annual lending rising by €1.6B - a remarkable 8% growth compared to control groups. Despite this surge in lending, key performance indicators such as return on assets, equity, and liquidity coverage remained stable, indicating no adverse effects. Explore the impact evaluation brief here: https://bit.ly/EBRD-brief Read EBRD’s learning brief here: https://lnkd.in/esHrBZmC Natalia Kryg, PhD Gabriele Fattorelli Véronique Salze-Lozac'h #ImpactEvaluation #EBRD #COVID19Response #BankingResilience #EvidenceForImpact #EBRD #3ie #3ieNews

Why Trust Tijaaro MicroFinance for Your Financial Journey? Find out why young entrepreneurs trust Tijaaro Microfinance for reliable and effective financial support. #TrustedPartner #YouthFinance

We know the banking sector is the key to mobilizing private finance in many emerging and developing countries. How can we boost their investments in green and resilient growth? https://lnkd.in/gbnT8WNB

Governments allocate funds to infrastructure to boost economies, improve connectivity, create jobs, raise living standards, and attract private investment in public projects. Disclaimer: This post is for informational and educational purposes only. Consult with a qualified financial advisor for personalized advice. KRChoksey is not responsible for any financial decisions made based on the information provided in this post. #KRChoksey #Finance #stockmarket #InfrastructureDevelopment #EconomicGrowth #JobOpportunities #ConnectivityEnhancement #FinancialWisdom #SmartInvesting #financialfreedom #FinancialGoals #nse #bse